Name of student:
Name of teacher:
This School Based Assessment is based on the presentation of a marketing business plan, for a variety store. However, this research will focus mainly on the marketing aspect of the business.
First of all I would like to thank God for helping the researcher in this School Based Assessment to the best of her ability. In addition to this, I would like to give a special thanksto Sister Victoria and my parents for their financial support. Therefore the researcher would like to thank her Principles of Business teacher who explained the criteria, so that the researcher got a full understanding about this School Based Assessment.
Description of business
The name of this business will be Shanice’s Everything Store. It will be a sole tradership business enterprise. Therefore, as a sole trader I would like my business to be opened to the public and situated at a place where it is likely to make a profit on my investments. In this circumstance my business will be located in May pen, Clarendon, Jamaica. As an entrepreneur I will be offering up-to-date clothes and shoes at affordable prices for men, women and children. It will be capable for who are habituated to the most fashionable and name brand clothes and shoes. The actual working hours will be from 9:00am to 7:30pm during Monday to Friday, and 9:00am to 9:00pm on Saturdays, because the working hours will be extended on Saturdays. This business will be closed on Sundays and on public holidays. The amount of department that will be necessary for this business will be marketing as sales, since it is a small business enterprise. The main objectives of this future sole tradership business enterprise are as follows: 1)To create employment for unemployed individuals.
2)To meet the needs of the public.
3)To be my own boss.
Justification of location
Shanice’s Everything Store will be located at 12 Main Street, May pen Clarendon. It will be next door Johnson’sDrug Store and opposite of the police station. I choose this particular area because: 1)Extra security: this particular business will be located opposite to the police station; therefore, the presence of the police will serve as deterrence to theft and also promote safety to our customers. 2)Competition: there is no business of this nature in that area and therefore, I force that Shanice’s Everything Store will be welcomed in that particular area. 3)This business will be located near a tourist attraction. Therefore having a business in this area will, enable both local and international tourist, to seek what they desire.
Selection of appropriate labour
Labour refers to all the various categories of skills and occupations found on the labour market. Therefore there are three types of labour they are: 1)Skilled labour
However the type of labour that will be necessary for Shanice’s Everything Store will be: semi-skilled, because it is the most suitable labour for a sole tradership business enterprise. At Shanice’s Everything Store we will employ a total of three (3) persons. Their duties are as follows: 1)Carry out each task correctly and on time.
2)Employees should have a positive attitude towards customers. 3)Employees should have knowledge about this business.
Sources of fixed and working capital
Fixed capital is a concept in economics and accounting. While working capital is the money that is used in the day-to-day running of the business. Therefore the entrepreneur will borrow a loan of $450,000.00 from the Jamaica National Bank. This fund will attract an interest rate of 20% per annum. The entrepreneur will use a 2006 Honda CRV motor vehicle to secure this loan. The entrepreneur will use this sum of money to purchase the necessary equipment, such as two desktop computers and a...